Net income and Diluted earnings per share in first quarter 2013 were
$460 million and $0.97, respectively. Net income in first quarter 2013
included a one-time aftertax charge of $111 million ($0.23 per diluted
share) related to the remeasurement of the Venezuelan balance sheet as a
result of the currency devaluation on February 9, 2013. Net income in
first quarter 2013 also included $55 million ($0.12 per diluted share)
of aftertax charges resulting from the implementation of the previously
disclosed four-year Global Growth and Efficiency Program (the "2012
Restructuring Program") and costs associated with the sale of land in
Mexico.

Net income and Diluted earnings per share in first quarter 2012 were
$593 million and $1.23, respectively. As previously disclosed, Net
income in first quarter 2012 included aftertax charges of $8 million
($0.01 per diluted share) resulting from the items described in Table 6.

Excluding the above noted items in both periods, Net income in first
quarter 2013 was $626 million, an increase of 4% versus first quarter
2012, and Diluted earnings per share in first quarter 2013 was $1.32, an
increase of 6% versus first quarter 2012.

Gross profit margin was 58.3% in first quarter 2013 versus 58.0% in the
year ago quarter. Excluding the above noted items in both periods, Gross
profit margin was 58.6% in first quarter 2013, an increase of 40 basis
points versus the year ago quarter, as higher pricing and cost savings
from the Company's funding-the-growth initiatives more than offset
higher raw and packaging material costs and the impact of the sale of
higher cost inventory on hand in Venezuela prior to the devaluation.

Selling, general and administrative expenses were 35.6% of Net sales in
first quarter 2013 versus 35.2% in first quarter 2012. Excluding the
above noted items in both periods, Selling, general and administrative
expenses increased by 40 basis points to 35.4% of Net sales in first
quarter 2013, as advertising investment increased by 20 basis points and
overhead expenses increased by 20 basis points primarily due to
increased investment in customer development initiatives. Worldwide
advertising investment on an absolute basis increased 5% versus the year
ago quarter to $471 million.

Operating profit decreased 21% to $742 million in first quarter 2013
compared to $938 million in first quarter 2012. Excluding the above
noted items in both periods, Operating profit increased 4% to $985
million.

Net cash provided by operations increased 17% to $777 million in the
first quarter of 2013, compared to $662 million in the comparable 2012
period. The increase was driven by strong operating earnings as well as
a continued tight focus on working capital, especially accounts
receivable and inventory management. Free cash flow before dividends
(Net cash provided by operations less Capital expenditures) exceeded
100% of Net income. Working capital as a percentage of Net sales
improved to negative 0.5% versus negative 0.1% in the year ago period.

Ian Cook, Chairman, President and Chief Executive Officer, commented on
the results and outlook excluding the 2013 and 2012 items noted above,
"We are very pleased to begin the year with strong top and bottom line
growth, building on the growth momentum we saw in 2012. Gross profit
margin, operating profit margin and net income as a percent of sales all
increased versus the year ago period.

"The excellent 6.0% organic sales growth was well balanced between solid
unit volume gains and higher pricing worldwide. All operating divisions
achieved positive organic sales growth in the quarter, led by the
emerging markets where organic sales grew a robust 9.5%.

"Advertising investment increased versus year ago, both absolutely and
as a percent to sales, and we continue to plan for higher levels of
commercial investment in the balance of the year in support of a very
full pipeline of new products worldwide.

"Colgate's global market shares in toothpaste and manual toothbrushes
are both at record highs year to date. Colgate's share of the global
toothpaste market strengthened to 45.6% year to date, up 0.1 share
points versus year ago. Our global leadership in manual toothbrushes
also strengthened during the quarter with Colgate's global market share
in that category reaching 33.4% year to date, up 0.4 share points versus
year ago.

"Looking forward, we expect our growth momentum to continue as we
progress through the year. We are pleased that our global restructuring
program is on track and proceeding smoothly. We also continue to be
sharply focused on our aggressive funding-the-growth programs and our
strategic worldwide pricing initiatives.

"Based on this, we anticipate another year of strong organic sales
growth and gross margin expansion in 2013. In light of the ongoing
impact of the Venezuela currency devaluation in 2013, which we still
expect to be $0.05 to $0.07 per quarter, we continue to expect diluted
earnings per share to grow 5.5% to 6.5% for the year, on a dollar basis."

At 11:00 a.m. ET today, Colgate will host a conference call to elaborate
on first quarter results. To access this call as a webcast, please go to
Colgate's web site at http://www.colgatepalmolive.com.

The following are comments about divisional performance for first
quarter 2013 versus the year ago period. See attached Geographic Sales
Analysis and Segment Information schedules for additional information on
divisional sales and operating profit.

North America (18% of Company Sales)

North America Net sales increased 5.5% in first quarter 2013. Unit
volume increased 3.5% with 2.0% higher pricing and foreign exchange was
even with the year ago quarter. Organic sales increased 5.5% during the
quarter.

Operating profit in North America increased 22% in the first quarter of
2013 to $215 million, or 28.1% of Net sales. This increase in Operating
profit was due to an increase in Gross profit, which was partially
offset by an increase in Selling, general and administrative expenses,
both as a percentage of Net sales. This increase in Gross profit was
mainly driven by lower raw and packaging material costs and savings from
the Company's funding-the-growth initiatives. This increase in Selling,
general and administrative expenses was due to higher advertising
investment, which was partially offset by lower overhead costs.

In the U.S., new product launches are contributing to volume growth
across categories. Market share gains year to date were seen in manual
toothbrushes, powered toothbrushes, mouthwash, body washes and fabric
conditioners. In toothpaste, the success of Colgate Optic White and
Colgate Optic White Dual Action toothpastes helped drive market share
for the Optic White brand to 5.7% year to date, up 1.3 share points
versus year ago. In manual toothbrushes, Colgate's market share reached
a record 37.1% year to date, up 0.3 share points versus year ago, driven
by the success of Colgate 360° Optic White, Colgate 360° Total Advanced
Floss Tip bristles and Colgate Extra Clean manual toothbrushes.

Exciting new products launching in second quarter 2013 include Colgate
Total Advanced Pro-Shield mouthwash, an important addition to the
Colgate Total oral care regimen. The launch will be supported by an
integrated marketing campaign featuring television personality Kelly
Ripa as the new spokesperson for the Colgate Total brand.

Operating profit in Latin America decreased 11% in the first quarter of
2013 to $312 million, or 25.7% of Net sales. This decrease in Operating
profit was due to a decrease in Gross profit and an increase in Selling,
general and administrative expenses, both as a percentage of Net sales.
This decrease in Gross profit is due to higher costs in Venezuela
primarily associated with charging Cost of sales, as required, with the
historical U.S. dollar cost of inventory acquired prior to the
devaluation. This increase in Selling, general and administrative
expenses was primarily due to higher costs in Venezuela due to inflation.

Colgate's strong leadership in oral care throughout Latin America
continued during the quarter with year-to-date toothpaste market share
gains in Brazil, Chile, Uruguay, the Dominican Republic and Puerto Rico.
Strong sales of Colgate Luminous White toothpaste drove volume growth
throughout the region. Colgate strengthened its leadership of the manual
toothbrush market throughout the region, driven by strong sales of
Colgate 360° Luminous White and Colgate Triple Action manual
toothbrushes. In mouthwash, Colgate's year-to-date market share is at a
record high in the region with gains driven by Colgate Luminous White
mouthwash and the relaunch of Colgate Plax mouthwash.

Europe/South Pacific Net sales in first quarter 2013 decreased 0.5%.
Unit volume and pricing were even with the year ago period and foreign
exchange was negative 0.5%. Volume gains in Australia, Holland and
Germany more than offset volume declines in Greece and the United
Kingdom. Organic sales for Europe/South Pacific increased 0.5%.

Operating profit in Europe/South Pacific increased 9% in the first
quarter of 2013 to $200 million, or 23.6% of Net sales. This increase in
Operating profit was due to an increase in Gross profit and a decrease
in Selling, general and administrative expenses, both as a percentage of
Net sales. This increase in Gross profit was driven by savings from the
Company's funding-the-growth initiatives. This decrease in Selling,
general and administrative expenses was driven by higher advertising
investment which was more than offset by lower overhead expenses.

Operating profit in Greater Asia/Africa increased 13% in the first
quarter of 2013 to $248 million, or 26.0% of Net sales. This increase in
Operating profit was a result of an increase in Gross profit which was
partially offset by an increase in Selling, general and administrative
expenses, both as a percentage of Net sales. This increase in Gross
profit was due to cost savings from the Company's funding-the-growth
initiatives, partially offset by lower pricing. This increase in
Selling, general and administrative expenses was driven by higher
advertising investment and increased investment in customer development
initiatives.

Hill's Operating profit decreased 8% in the first quarter of 2013 to
$136 million, or 25.5% of Net sales. This decrease in Operating profit
was due to a decrease in Gross profit and an increase in Selling,
general and administrative expenses, both as a percentage of Net sales.
This decrease in Gross profit was driven by higher raw and packaging
material costs, which were partially offset by higher pricing and cost
savings from the Company's funding-the-growth initiatives. This increase
in Selling, general and administrative expenses was primarily due to
increased investment in customer development initiatives.

Substantially all market share data included in this press release is
compiled from data as measured by Nielsen.

Cautionary Statement on Forward-Looking Statements

This press release and the related webcast (other than historical
information) may contain forward-looking statements. Such statements may
relate, for example, to sales or volume growth, organic sales growth,
profit or profit margin growth, earnings growth, financial goals, the
impact of currency devaluations, exchange controls, price controls and
labor unrest, including in Venezuela, cost-reduction plans including the
2012 Restructuring Program, tax rates, new product introductions or
commercial investment levels. These statements are made on the basis of
our views and assumptions as of this time and we undertake no obligation
to update these statements. We caution investors that any such
forward-looking statements are not guarantees of future performance and
that actual events or results may differ materially from those
statements. Investors should consult the Company's filings with the
Securities and Exchange Commission (including the information set forth
under the caption "Risk Factors" in the Company's Annual Report on Form
10-K for the year ended December 31, 2012) for information about certain
factors that could cause such differences. Copies of these filings may
be obtained upon request from the Company's Investor Relations
Department or on the Company's web site at http://www.colgatepalmolive.com.

Non-GAAP Financial Measures

The following provides information regarding the non-GAAP financial
measures used in this earnings release and/or the related webcast:

To supplement Colgate's Condensed Consolidated Income Statements
presented in accordance with accounting principles generally accepted in
the United States of America (GAAP), the Company has disclosed non-GAAP
measures of operating results that exclude certain items. Worldwide
Gross profit, Gross profit margin, Selling, general and administrative
expenses, Selling, general and administrative expenses as a percentage
of Net sales, Other (income) expense, net, Operating profit, Operating
profit margin, Net income attributable to Colgate-Palmolive Company and
Diluted earnings per common share are discussed both as reported (on a
GAAP basis) and, as applicable, excluding charges resulting from the
implementation of the 2012 Restructuring Program, the one-time charge
resulting from the Venezuela devaluation, costs related to the sale of
land in Mexico and costs associated with various business realignment
and other cost-saving initiatives (non-GAAP). Management believes these
non-GAAP financial measures provide investors with useful supplemental
information regarding the performance of the Company's ongoing
operations. See "Non-GAAP Reconciliations" for the three months ended
March 31, 2013 and 2012 included with this release for a reconciliation
of these financial measures to the related GAAP measures.

This release discusses organic sales growth, which is Net sales growth
excluding the impact of foreign exchange, acquisitions and divestments.
Management believes this measure provides investors with useful
supplemental information regarding the Company's underlying sales trends
by presenting sales growth excluding the external factor of foreign
exchange as well as the impact from acquisitions and divestments. See
"Geographic Sales Analysis Percentage Changes" for the three months
ended March 31, 2013 vs 2012 included with this release for a comparison
of organic sales growth to sales growth in accordance with GAAP.

The Company uses these financial measures internally in its budgeting
process and as factors in determining compensation. While the Company
believes that these financial measures are useful in evaluating the
Company's business, this information should be considered as
supplemental in nature and is not meant to be considered in isolation or
as a substitute for the related financial information prepared in
accordance with GAAP. In addition, these non-GAAP financial measures may
not be the same as similar measures presented by other companies.

The Company defines free cash flow before dividends as Net cash provided
by operations less Capital expenditures. As management uses this measure
to evaluate the Company's ability to satisfy current and future
obligations, repurchase stock, pay dividends and fund future business
opportunities, the Company believes that it provides useful information
to investors. Free cash flow before dividends is not a measure of cash
available for discretionary expenditures since the Company has certain
non-discretionary obligations such as debt service that are not deducted
from the measure. Free cash flow before dividends is not a GAAP
measurement and may not be comparable to similarly titled measures
reported by other companies. See "Condensed Consolidated Statements of
Cash Flows" for the three months ended March 31, 2013 and 2012 for a
comparison of free cash flow before dividends to Net cash provided by
operations as reported in accordance with GAAP.

(See attached tables for first quarter results.)

Table 1

Colgate-Palmolive Company

Condensed Consolidated Statements of Income

For the Three Months Ended March 31, 2013 and 2012

(Dollars in Millions Except Per Share Amounts) (Unaudited)

2013

2012

Net sales

$

4,315

$

4,200

Cost of sales

1,800

1,763

Gross profit

2,515

2,437

Gross profit margin

58.3

%

58.0

%

Selling, general and administrative expenses

1,536

1,478

Other expense, net

237

21

Operating profit

742

938

Operating profit margin

17.2

%

22.3

%

Interest (income) expense, net

(3

)

10

Income before income taxes

745

928

Provision for income taxes

239

295

Effective tax rate

32.1

%

31.8

%

Net income including noncontrolling interests

506

633

Less: Net income attributable to noncontrolling interests

46

40

Net income attributable to Colgate-Palmolive Company

$

460

$

593

Earnings per common share

Basic

$

0.98

$

1.24

Diluted

$

0.97

$

1.23

Average common shares outstanding

Basic

468.3

480.1

Diluted

472.5

483.9

Table 2

Colgate-Palmolive Company

Condensed Consolidated Balance Sheets

As of March 31, 2013, December 31, 2012 and March 31, 2012

(Dollars in Millions) (Unaudited)

March 31,

December 31,

March 31,

2013

2012

2012

Cash and cash equivalents

$

932

$

884

$

1,044

Receivables, net

1,808

1,668

1,827

Inventories

1,371

1,365

1,400

Other current assets

717

639

578

Property, plant and equipment, net

3,820

3,842

3,702

Other assets, including goodwill and intangibles

4,885

4,996

4,703

Total assets

$

13,533

$

13,394

$

13,254

Total debt

$

5,357

$

5,230

$

4,967

Other current liabilities

3,829

3,432

3,735

Other non-current liabilities

2,328

2,342

2,056

Total liabilities

11,514

11,004

10,758

Total Colgate-Palmolive Company shareholders' equity

1,772

2,189

2,290

Noncontrolling interests

247

201

206

Total liabilities and shareholders' equity

$

13,533

$

13,394

$

13,254

Supplemental Balance Sheet Information

Debt less cash, cash equivalents and marketable securities*

$

4,261

$

4,230

$

3,841

Working capital % of sales

(0.5

)%

0.7

%

(0.1

)%

*

Marketable securities of $164, $116 and $82 as of March 31, 2013,
December 31, 2012 and March 31, 2012, respectively, are included

in Other current assets.

Table 3

Colgate-Palmolive Company

Condensed Consolidated Statements of Cash Flows

For the Three Months Ended March 31, 2013 and 2012

(Dollars in Millions) (Unaudited)

2013

2012

Operating Activities

Net income including noncontrolling interests

$

506

$

633

Adjustments to reconcile net income including noncontrolling
interests to net cash provided by operations:

Corporate operations include costs related to stock options and
restricted stock awards, research and development costs, Corporate
overhead costs, restructuring and related implementation costs and
gains and losses on sales of non-core product lines and assets.

For the three months ended March 31, 2013, Corporate Operating
profit (loss) includes charges of $66 associated with the 2012
Restructuring Program, a one-time $172 charge for the impact of the
devaluation in Venezuela and costs of $5 related to the sale of land
in Mexico.

For the three months ended March 31, 2012, Corporate Operating
profit (loss) includes costs of $7 related to the sale of land in
Mexico and $5 associated with various business realignment and
other cost-saving initiatives.